What does it mean that the hotel sign is covered with red cloth?

People not only choose the wedding day, but also the opening of hotels and companies, so that everything will be lucky in the future. When a hotel or company is ready to open a new business, the plaque should be covered with red cloth, and the plaque can only be unveiled and cut the ribbon to show that it is a good start! Although there are some idealists, they all prefer to believe that some of them are handed down from generation to generation.